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Article: De Beers strategy gets EC approval. (Up Front).
- Article from:
- Jewelers Circular Keystone
- Article date:
- January 1, 2003
- Author:
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The European Commission recently approved De Beers' "Supplier of Choice" strategy, giving it the go-ahead to reinvent itself and the diamond industry.
According to an EC document obtained by JCK, the Commission's directorate-general for competition now takes a "favorable position" toward a revised version of the strategy, agreed to after a year of negotiations between the EC and De Beers.
Most of the EC's requests involved minor fine-tuning of the "Supplier of Choice" concept, but one seemed to strike at its heart: the EC's insistence that "sightholders no longer [be] obliged to keep DTC informed of their specific marketing or promotional initiatives, ...